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Polymarket is reportedly considering issuing its own stablecoin to control the platforms USDC reserve income
Odaily News According to people familiar with the matter, crypto prediction market platform Polymarket is evaluating the possibility of launching its own stablecoin in order to control the income from the high reserve funds supported by Circles USDC. At present, the platform has not made a final decision and is also weighing the option of reaching a revenue-sharing agreement with Circle. Since the Polymarket ecosystem is closed, it only needs to realize the exchange between USDC and its customized stablecoin, without having to face the compliance problem of deposit and withdrawal, making the issuance of stablecoins more feasible in terms of technology and regulation. With the recent passage of stablecoin-related legislation in the United States, the issuance of stablecoins has become a new profit point in the eyes of crypto companies and traditional financial institutions. During the US election last year, the Polymarket platform bet as much as $8 billion, and the number of visits in May reached 15.9 million. The company is currently returning to the US market by acquiring the US exchange QCEX. Previously, Polymarket was subject to civil and criminal investigations for allowing US users to place bets, and the case has now been closed.
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